Business Real Estate Weekly by Rose Law Group
Phoenix/Gilbert – A venture formed by a division of the McShane Cos. in Rosemont, Ill. (Jim McShane, pres.) plans to develop a 155,000-square-foot speculative industrial project in Phoenix on the heels of the company selling a medical facility in Gilbert. The industrial building will be developed by Conor Commercial Real Estate, the successor to McShane Development Co. The project is targeted for a site located west of the northwest corner of 32nd and Canal streets in Phoenix. Conor Commercial’s plans for the spec industrial project follows the company’s nearly $30 million sale of a medical property in Gilbert. After building numerous industrial and office projects in the Valley as McShane Development, the company is now operating as Conor Commercial. In that entity’s first Phoenix endeavor, the company is building 155,351 sq. ft. of industrial space within the Canal Crossing Park industrial project. The rear-loaded building, being called Canal Canal Crossing Logistics Center, has an address of 5670 S. 32nd Street. The project will be developed by a venture formed by Conor Commercial and Globe Corp. in Scottsdale (George Getz, principal). Public records show Conor Globe-Canal Crossing LLC paid $1.8 million to buy the 10.1-acre site. Continue reading
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